Kimbell Royalty Partners LP

For the period ended Jun 30, 2024. Filed Aug 1, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 1, 2024

KRP$15.15+0.7%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Cash Flows


· · Six Months Ended June 30,
	2024	2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$24,523,468		$46,696,569
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and depletion expense	71,190,740		37,220,503
Impairment of oil and natural gas properties	5,963,575		—
Amortization of right-of-use assets	172,879		167,658
Amortization of loan origination costs	1,060,260		1,008,830
Loss on extinguishment of debt	—		480,244
Unit-based compensation	8,792,398		6,459,740
Loss (gain) on derivative instruments, net of settlements	12,534,027		(15,100,314)
Changes in operating assets and liabilities:
Oil, natural gas and NGL receivables	5,802,268		1,987,323
Accounts receivable and other current assets	(689,643)		427,105
Accounts payable	(39,409)		159,557
Other current liabilities	2,803,415		3,431,295
Operating lease liabilities	(185,789)		(170,331)
Consolidated variable interest entities related:
Interest earned on marketable securities in trust account	—		(3,508,691)
Other assets and liabilities	—		(687,353)
Net cash provided by operating activities	131,928,189		78,572,135
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(109,484)		(72,123)
Purchase of oil and natural gas properties	(21,605)		(44,175,131)
Proceeds from trust of variable interest entity	—		930,850
Consolidated variable interest entities related:
Cash paid for transaction costs	—		31,553
Cash received from investments held in trust	—		243,167,434
Net cash (used in) provided by investing activities	(131,089)		199,882,583
CASH FLOWS FROM FINANCING ACTIVITIES
Contributions from Class B unitholders	—		268,461
Redemption of Class B contributions on converted units	(316,159)		—
Distribution to common unitholders	(68,674,758)		(53,908,777)
Distribution to OpCo unitholders	(19,677,700)		(12,786,091)
Distribution on Series A preferred units	(9,763,430)		—
Distribution on Class B units	(41,694)		(47,085)
Borrowings on long-term debt	4,959,776		59,084,089
Repayments on long-term debt	(33,400,000)		(22,500,000)
Payment of loan origination costs	(16,499)		(4,793,368)
Restricted units repurchased for tax withholding	(4,914,149)		(4,851,962)
Consolidated variable interest entities related:
Redemption of Kimbell Tiger Acquisition Corporation equity units	—		(243,167,434)
Net cash used in financing activities	(131,844,613)		(282,702,167)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(47,513)		(4,247,449)
CASH AND CASH EQUIVALENTS, beginning of period	30,992,670		25,026,568
CASH AND CASH EQUIVALENTS, end of period	$30,945,157		$20,779,119

CONSOLIDATED STATEMENTS OF CASH FLOWS — (Continued)


· · Six Months Ended June 30,
	2024	2023
Supplemental cash flow information:
Cash paid for interest	$13,325,254		$10,963,296
Non-cash investing and financing activities:
Units issued in exchange for oil and natural gas properties	$—		$92,038,856
Noncash deemed distribution to Series A preferred units	$789,285		$—
Distribution on Series A preferred units in accounts payable	$4,848,361		$—
Recognition of tenant improvement asset	$62,500		$62,500
Consolidated variable interest entities related:
Reduction of deferred underwriting commission associated with redemption of Kimbell Tiger Acquisition Corporation equity units	$—		$(8,050,000)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.